Pakistan and Russia have agreed to a joint venture to enhance the cooperation for the upgradation and modernisation of Pakistan railways infrastructure, as the two sides resolve to increase volume of bilateral trade through enhanced business activities by their private sectors.

“I believe that Russia has expertise in railways sector and we will expand the cooperation for introducing the modern locomotive in local trains to resolve the issues of design and speed of trains,” Economic Affairs Minister Hammad Azhar told a media briefing after a plenary session of the 6th Pak-Russia Inter-Governmental Commission on Trade, Economic, Scientific and Technical Cooperation.

The head of the Russian delegation, Manutov said that Pakistan and the Russian Federation were committed to enhance bilateral trade and further cooperation in aviation, professional training and capacity building of the local industrial sector.

Manutov, the industry and trade minister of the Russian Federation, told the reporters that Russian investment groups were keenly interested to invest in pharmaceutical sector, medical machinery and aviation.

Earlier, at plenary session, both sides agreed to strengthen bilateral ties in all areas of mutual interest, including political, trade, economic, energy, education and people-to-people contacts, said a statement.

Azhar briefed the forum about the recent economic developments and highlighted the improved indicators of Pakistan’s economy. He also apprised the Russian side of the successful implementation of International Monetary Fund (IMF) Programme.

Courtesy: Express Tribune

https://tribune.com.pk/story/2115834/1-russia-help-modernise-railways-infrastructure/